Twin-Style Residential Income
1602 E AYRE STREET Wilmington, DE 19804
For Sale
$200,000
SINGLE_FAMILY - WILMINGTON, DE
Property Size1,500 SF
Price / SF$133.33
Days on Market87
Property Features for 1602 E AYRE STREET
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Bedrooms
- 3
- Bathrooms
- 1
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3
- Standard status
- Active
- Size
- 1,500 SF
Building Details
- Year built
- 1953
Listing Agency:
BHHS Fox & Roach Greenville Home Marketing Center
(302) 571-8855
Listed By:
Vaidra Johnson
(267) 225-2860
Added: Apr 29
Changed: Jul 23
Last Checked: Jul 24 at 1:06AM
MLS# DENC2101680
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story twin-style residential income property offers three bedrooms and one bathroom, along with a full basement. The home also features a fenced rear yard. The property is being sold as-is and includes remaining personal belongings.
The listing is located in Wilmington, Delaware (19804) in New Castle County. Public remarks indicate the home is minutes to I-95, downtown Wilmington, and shopping, dining, and major routes.
At the time of sale, investors should plan for updates and renovations as needed to align the property with their operating strategy. Financing terms referenced in the remarks include cash, 203(k), or hard money.
The listing is located in Wilmington, Delaware (19804) in New Castle County. Public remarks indicate the home is minutes to I-95, downtown Wilmington, and shopping, dining, and major routes.
At the time of sale, investors should plan for updates and renovations as needed to align the property with their operating strategy. Financing terms referenced in the remarks include cash, 203(k), or hard money.
Key Highlights
- 1953‑built 2‑story twin with 3 bedrooms and 1 bathroom
- Full basement provides additional usable space
- Spacious fenced rear yard
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.3k | $16.20 |
| − Vacancy | −$1.6k | −$1.05 |
| EGI | $22.7k | $15.15 |
| − OpEx | −$6.8k | −$4.54 |
| NOI | $15.9k | $10.60 |
1,500 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$227.2K
$198.8K – $265.1K
NOI $15,904 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$203.0K
$177.6K – $236.8K
NOI $14,208 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$358.8K
$313.9K – $418.6K
NOI $25,115 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
SavantDirect
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FAQs
What type of property is this?
Duplex - Two-story twin with three bedrooms, one bathroom, full basement, and fenced rear yard, sold as-is.
Where is this duplex located?
The property is located at 1602 E AYRE STREET Wilmington, DE.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1953‑built 2‑story twin with 3 bedrooms and 1 bathroom; Full basement provides additional usable space; Spacious fenced rear yard
